Dictionary of Real Estate Terms

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Land Lease Definition

With a ground lease, the tenant owns the building where it operates but not the dirt under that building. The land is owned by an

Secured Overnight Financing Rate (SOFR)

The Secured Overnight Financing Rate (SOFR) is a new benchmark interest rate for borrowing cash secured by Treasury securities that was introduced in 2018. SOFR

Triple Net Lease Meaning

A triple net lease is a commercial lease under which the tenant is responsible for all—or an agreed upon portion—of the property’s operating expenses, insurance,

Loan-to-Cost Ratio (LTC)

LTC is a metric that helps lenders understand the amount of risk they will be taking on when lending to a borrower. This is accomplished